Preparing for business disaster: Replacing You.

You may find it uncomfortable to think about this one, and you might even be lazy when it comes to implementing things related to it, but it’s important to do so.

What steps have you taken to deal with something happening to you, or a key employee?

Insurance companies have “Key man coverage” (and yes, I fully realize it is available for women, surely by now you realize that all of the women in my life are key<g>).

Do your key people have key man coverage?

What have you done to prepare your company for the worst?

Would they know where everything is? Are there instructions to help find it?

If it’s a family-owned business, have you talked with your family and put plans in writing for succession?

Are you cross-training other family members, or other employees?

We’ve talked at length about documenting employee processes, but are YOURS documented?

Is there a checklist of things that must be done weekly, monthly, quarterly? For example, are you the only one who knows what EFTPS is? Certainly anyone can pick that up and do it, but if they don’t know they need to…big problem.

Coming in this discussion: technology, marketing to clients who think your biz is toast, what others have experienced and what you can learn from it.